During today's Full Committee Hearing to Examine Fusion Energy Technology Development within the Senate Committee on Energy & Natural Resources, Senator Manchin of West Virginia showed a graph from our recent blog post, Equity Investments to Fusion Energy Companies 2010-2023 by Country.
Credit Andrew Holland, Fusion Industry Association
We were happy to see this graph utilized by Senator Manchin and the robust discussion of fusion energy development within the United States, and to hear the different perspectives which were shared surrounding international competition and cooperation.
Given the interest in this graph, we have updated it below, showing equity investments to fusion companies1 through September 19th, 2024.
The largest announced funding round so far in 2024 was an increase of Neo Fusion's registered capital2 by 9.5 billion RMB ($1.3 billion USD). Barring large announcements before the end of this year, for the second year in a row, it appears that equity funding to fusion companies in China will exceed equity funding to fusion companies in all other countries combined.
Sign up to our mailing list below and follow Fusion Energy Base on X to stay informed of new articles.
-
Data on equity investments come from press releases, publicly available reports, public SEC filings, and directly from companies themselves. These numbers are likely an underestimate of the actual values as some investments are never disclosed and some are announced long after the investments are made. The source of these equity investments include organizations beyond private investment funds. They include sovereign wealth funds, state owned or affiliated investment funds, and governments themselves. Furthermore, the recipients of equity investments may be majority privately or publicly owned entities. ↩
-
In China, registered capital is "the initial investment dedicated to by shareholders to a company". While the details of registered capital differ from stock purchase agreements, for the purposes of this graph, we consider it to be an equity investment because it is at-risk capital used by companies to pursue commercial fusion energy. ↩